KAR Auction Services Inc. (NYSE:KAR) EVP Lisa A. Price sold 5,140 shares of the company’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $44.00, for a total value of $226,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of KAR Auction Services Inc. (NYSE:KAR) opened at 43.45 on Friday. KAR Auction Services Inc. has a 12-month low of $31.54 and a 12-month high of $44.10. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 27.19 and a beta of 1.37. The firm has a 50-day moving average price of $42.57 and a 200-day moving average price of $40.77.
KAR Auction Services (NYSE:KAR) last posted its earnings results on Tuesday, August 2nd. The company reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $771.80 million for the quarter, compared to the consensus estimate of $757.67 million. KAR Auction Services had a return on equity of 19.03% and a net margin of 7.79%. The business’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Equities research analysts anticipate that KAR Auction Services Inc. will post $2.13 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Wednesday, September 21st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, September 19th. This represents a $1.16 annualized dividend and a yield of 2.67%. KAR Auction Services’s dividend payout ratio is presently 72.50%.
Several research analysts have weighed in on KAR shares. Jefferies Group upped their target price on KAR Auction Services from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of KAR Auction Services in a research report on Wednesday, August 3rd. Zacks Investment Research raised KAR Auction Services from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday, July 6th. Northcoast Research lowered KAR Auction Services from a “buy” rating to a “neutral” rating in a report on Thursday, July 14th. Finally, Macquarie reissued an “outperform” rating on shares of KAR Auction Services in a report on Monday, August 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.71.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in shares of KAR Auction Services by 29.9% in the third quarter. BNP Paribas Arbitrage SA now owns 144,104 shares of the company’s stock worth $6,220,000 after buying an additional 33,165 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of KAR Auction Services during the second quarter worth approximately $1,754,000. KAMES CAPITAL plc purchased a new stake in shares of KAR Auction Services during the second quarter worth approximately $34,885,000. Braun Stacey Associates Inc. purchased a new stake in shares of KAR Auction Services during the second quarter worth approximately $340,000. Finally, Calvert Investment Management Inc. raised its stake in shares of KAR Auction Services by 9.6% in the second quarter. Calvert Investment Management Inc. now owns 11,087 shares of the company’s stock worth $463,000 after buying an additional 972 shares during the period.
About KAR Auction Services